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On the technical charts, the RSI of the stock stood at 40.59.

The brokerage revises its revenue forecasts for FY23/24E by -3%/-5% and EBITDA margins by +50/-90 bps due to lower growth in licenses/SaaS business.

Options data suggests a broader trading range in between 18400 to 19200 zones while an immediate trading range in between 18400 to 18800 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

With the asset quality pain being largely behind and the restructured book behaving fairly well, a ramp-up in credit growth and the ability to maintain margins in an increasing interest rate environment is likely to drive valuations for banks and NBFCs moving forward, analysts say.

From the Sensex pack, UltraTech Cement, HCL Tech and Infosys were the top gainers, rising over 1%. Wipro, TCS, Tech Mahindra and Bajaj Finance also opened with gains. On the other hand, Bharti Airtel, NTPC, Maruti, Tata Motors and Sun Pharma opened with losses.

“If anyone is contributing towards life insurance in aggregate, which is more than Rs 5 lakh and if the premium is more than Rs 5 lakh in aggregate, then whatever money is realised during the lifetime of the person who is insuring that will be taxable, subject to deduction of the premium. ”

"The only one point which needs to be considered is largely making it simple. If you are getting say Rs 5 lakh deductions under the 80D, 80C, home loan, HRA, then you are better off in the old regime. This is the only decision point which is simple enough for a lay person to comprehend. The sum total of all exemptions should exceed Rs 3.77 lakh for him to write to his employer and say keep me in the old one, otherwise the default is okay."

Morgan Stanley said that the Q3 results were in-line but capex was higher than expectations. “There is visible strength in 4G subscriber growth in India mobile business. ARPUs are trending higher, and in line with expectations.

Airtel also reported higher-than-expected consolidated revenue in the December quarter, up 20% on-year and 3.7% sequentially, to Rs 35,804.4 crore, driven by strong ARPU growth and sustained momentum of its postpaid, enterprise, homes and Africa businesses.

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